How can a machine do any better than to buy near the bottom and sell near the top, which humans have been doing since the first markets opened?

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Computers can do almost anything that humans can do when its comes to trading and they don't get tired or lose concentration so therefore can take advantage of all opportunities that present themselves.

It's impossible for humans to execute trades with the same level of speed and accuracy as a computer algorithm especially when there's mathematics and multiple time-series involved.

quant funds are managing only about 10-15% of total AUM in the hedge fund space so I would be surprised if they were massively represented

most long-short funds are, in reality, closet longs and usually do better when the market is rallying while quant funds tend to be truly market neutral

overall, it’s unclear what the ranking criteria is - there are funds that have done way better than the ones in the “top 20”

I think it will be “a few years” before quant funds would be able to compete with human-driven when it comes to fundamental long short. Really good LS guys are very good at synthetic thinking that’s hard to represent as an algorithm